Fact sheet: Nordea 1 Lw Drtn US HiYd Bd

Fund information
Fund name
Nordea 1 Low Duration US High Yield Bond BP USD
Fund manager company
Nordea
Fund type
Offshore Fund
Fund manager
  • Dan Robertssince 02/03/2011
Fund objective
The fund seeks to achieve attractive risk-adjusted return by identifying target bonds through eliminating uncompensated risk. The fund manager rigorously screens the investment universe for risk in order to quantify upside potential using bond analysis, not equity-style analysis. By targeting the sweet spot for risk compensation, the managers goal is to eliminate rather than to include bonds. The underlying belief is that to deliver attractive returns it is more important to recognise which bonds not to include in the portfolio, than to focus on the ones that should be selected. This fund focuses primarily on maintaining a low duration using high yield instruments and Treasury futures. The investment process is dominated by bottom-up security selection, with macroeconomic analysis as an integral part.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
2.8%
1 Year rank in sector
41/43
Sector
FO Fixed Int - USD High Yield
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.36%
Fund size
£652m (£815m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
76
Top in this sector
Fund name1 Year
Candriam GFUS HiYld Corp Bd32.2%
Allianz US HiYd30.7%
Old Mutual MtyInc HiYdBd25.9%
Nomura US Hg Yld Bd13.1%
Morg Stnly US$ HiYd Bd10.9%
...more in FO Fixed Int - USD High Yield

Performance snapshot

Holdings snapshot

  • USA87%
    Germany3.4%
    UK3.1%
    Money Market2.5%
    Ireland1.9%
  • Basic Industries15.8%
    Health Care11.6%
    Capital Goods8.9%
    Leisure8.4%
    Telecommunications8.1%
  • US Fixed Interest97.4%
    Money Market2.5%
    US Government Fixed Interest0.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.3%-1.4%2.8%3.4%16.7%
Sector0.6%0.7%5.2%8.5%8.6%32.8%
Rank within sector27 / 4528 / 4342 / 4341 / 4327 / 3422 / 23
Quartile3rd3rd4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund3.8%-1.1%0.4%4.4%7.6%
Sector10.7%-3.1%0.7%6.2%14.1%
Rank within sector41 / 439 / 3922 / 3427 / 3323 / 24
Quartile4th1st3rd4th4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-0.39
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.53
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
2.82
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
2.49
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.65
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.9
Price movement
52 week high11.64
52 week low10.86
Current bid price-
Current offer price-
Current mid price11.58
Region
1USA86.95%
2Germany3.37%
3UK3.06%
4Money Market2.52%
5Ireland1.87%
6Netherlands1.06%
7New Zealand0.88%
8France0.29%
Industry sector
1Basic Industries15.8%
2Health Care11.55%
3Capital Goods8.87%
4Leisure8.44%
5Telecommunications8.12%
6Technology6.85%
7Services6.59%
8Automotive5.84%
9Banks4.16%
Asset type
1US Fixed Interest97.39%
2Money Market2.52%
3US Government Fixed Interest0.09%
Individual holdings
1ICAHN ENTERPRISES LP 4.875% NTS 15/03/19 USD10001.8%
2FRESENIUS MEDICAL CARE US FIN INC 6.5% BDS 15/09/18 USD1000 144A1.7%
3HCA INC 3.75% NTS 15/03/19 USD10001.62%
4CENTURYLINK INC 6% NTS 01/04/17 USD10001.52%
5CONSTELLATION BRANDS INC 3.875% BDS 15/11/19 USD20001.51%
6DISH DBS CORP 5.125% NTS 01/05/20 USD10001.48%
7GENERAL MOTORS CO 3.5% NTS 02/10/18 USD10001.47%
8IRON MOUNTAIN INC DELAWARE BDS 01/10/20 USD20001.39%
9T-MOBILE US INC 5.25% NTS 01/09/18 USD1.39%
Management
Fund manager group
Nordea
Fund manager company
Nordea
Fund type
Offshore Fund
Fund objective
The fund seeks to achieve attractive risk-adjusted return by identifying target bonds through eliminating uncompensated risk. The fund manager rigorously screens the investment universe for risk in order to quantify upside potential using bond analysis, not equity-style analysis. By targeting the sweet spot for risk compensation, the managers goal is to eliminate rather than to include bonds. The underlying belief is that to deliver attractive returns it is more important to recognise which bonds not to include in the portfolio, than to focus on the ones that should be selected. This fund focuses primarily on maintaining a low duration using high yield instruments and Treasury futures. The investment process is dominated by bottom-up security selection, with macroeconomic analysis as an integral part.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Dan Roberts02/03/2011Dan C. Roberts, Ph.D. Senior Managing Director Chief Strategist High Yield Active Core Division. In October 2004 Dan Roberts came to MacKay when the firm acquired the fixed income division of Pareto Partners. Dan was Chief Investment Officer and an equity shareholder at Pareto. Dan assembled the US fixed income team while serving 10 years at UBS Asset Management, most recently as Managing Director and head of the fixed income group. Prior to its acquisition by UBS, he was a Financial Economist for Chase Manhattan Bank, NA and later was head of Global Interest Rate and Currency Swaps Trading. In 1997, Dans fixed income group was lifted out of UBS by Forstmann-Leff International and was subsequently purchased by Pareto Partners, effective February 2000. His regulatory and government experience included a two-year stint at the US Securities and Exchange Commission, serving at The White House with the Presidents Council of Economic Advisors and as Executive Director (Chief of Staff) of the US Congress Joint Economic Committee. Dan holds a BBA and a Ph.D. from University of Iowa.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Estonia, Finland, France, United Kingdom, Italy, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Offshore, Portugal, Singapore, Sweden
Nordea 1 Low Duration US High Yield Bond AP EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.35%
Bid price-
Offer price-
Mid price8.73
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF4AR
Nordea 1 Low Duration US High Yield Bond AP USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.35%
Bid price-
Offer price-
Mid price9.34
CurrencyUSD
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFFAW
Nordea 1 Low Duration US High Yield Bond BI USD
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price11.87
CurrencyUSD
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN4B0
Nordea 1 Low Duration US High Yield Bond BP EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price10.83
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code002F
Nordea 1 Low Duration US High Yield Bond BP USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price11.58
CurrencyUSD
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN4B2
Nordea 1 Low Duration US High Yield Bond E EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.11%
Total expense ratio (TER)2.11%
Bid price-
Offer price-
Mid price10.16
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WK2
Nordea 1 Low Duration US High Yield Bond E USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.11%
Total expense ratio (TER)2.11%
Bid price-
Offer price-
Mid price10.87
CurrencyUSD
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WK1
Nordea 1 Low Duration US High Yield Bond HA EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.45%
Total expense ratio (TER)1.45%
Bid price-
Offer price-
Mid price7.11
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFGHD
Nordea 1 Low Duration US High Yield Bond HAI EUR
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price6
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNON1
Nordea 1 Low Duration US High Yield Bond HB EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.37%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price7.99
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeABTL
Nordea 1 Low Duration US High Yield Bond HB SEK
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price74.85
CurrencySEK
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeABTM
Nordea 1 Low Duration US High Yield Bond HBI CHF
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price10.53
CurrencyCHF
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFBEZ
Nordea 1 Low Duration US High Yield Bond HBI EUR
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price8.37
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN6J5
Nordea 1 Low Duration US High Yield Bond HBI NOK
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price70.8
CurrencyNOK
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN4B1
Nordea 1 Low Duration US High Yield Bond HX EUR
Initial charge-
Annual charge-
Min single investment£25,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.07%
Total expense ratio (TER)0.06%
Bid price-
Offer price-
Mid price8.95
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFDLJ
Nordea 1 Low Duration US High Yield Bond X USD
Initial charge-
Annual charge-
Min single investment£25,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.07%
Total expense ratio (TER)0.06%
Bid price-
Offer price-
Mid price12.48
CurrencyUSD
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN4B3
Data provided by

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